MIRA INFORM REPORT
|
Report No. : |
319209 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ETG AGRO PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, Pharma Search House, 72 / 73, Worli, Hill Estate, Dr. B. G.
Kher Road, Worli, Mumbai – 400018, Maharashtra |
|
Tel. No.: |
91-22-66221500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.02.2011 |
|
|
|
|
Com. Reg. No.: |
11-213208 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101MH2011PTC213208 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader in agricultural commodities such as Peas, Lentils, Rice, Pulses, Wheat and Soya. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
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|
Litigation : |
Clear |
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|
Comments : |
The subject is a company with limited operational history incorporated
in the year 2011. It is having a moderate track record. As per registrar of companies the date of balance sheet i.e.
financials filed is shown as 31st March 2014 but the documents
related to the financials for the year 2014 are not available from any
sources except From 20B. As per financial of the year 2012-2013, the company has reported
profitability, in first year of its profitable operation. Further,
debts-funds seem to have increased considerably and above servicing capacity
of the company. The rating gets constrained due to unavailability of recent financial,
management’s non-cooperative in parting requisite details. However, trade relations are fair. Business is active. Payments are
reported to be unknown. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term, term loan: BB |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
October 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund-based: A4+ |
|
Rating Explanation |
Minimal degree of safety facilities and high credit risk. |
|
Date |
October 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Manish Punjvani |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-66221566 |
|
Date : |
27.04.2015 |
LOCATIONS
|
Registered Office : |
4th Floor, Pharma Search House, 72 / 73, Worli, Hill Estate, Dr. B. G.
Kher Road, Worli, Mumbai – 400018, Maharashtra |
|
Tel. No.: |
91-22-66221566/66221500/96/75 |
|
Fax No.: |
91-22-22551525/15 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Vijay Kumar Bhupatrai Doshi |
|
Designation : |
Managing director |
|
Address : |
21/B, Paradise Apartment, 44, Neapeansea Road, Mumbai – 400036,
Maharashtra, India |
|
Date of Birth/Age : |
22.05.1954 |
|
Date of Appointment : |
09.02.2011 |
|
DIN No.: |
00039884 |
|
PAN No.: |
AAHPD2175L |
|
|
|
|
Name : |
Mrs. Mala Vijay Kumar Doshi |
|
Designation : |
Director |
|
Address : |
21/B, Paradise Apartment, 44, Neapeansea Road, Mumbai – 400036,
Maharashtra, India |
|
Date of Birth/Age : |
22.10.1954 |
|
Date of Appointment : |
09.02.2011 |
|
DIN No.: |
00008954 |
|
PAN No.: |
AAHPD2176K |
|
|
|
|
Name : |
Mr. Hemir Vijay Kumar Doshi |
|
Designation : |
Additional director |
|
Address : |
21/B, Paradise Apartment, 44, Neapeansea Road, Mumbai – 400036,
Maharashtra, India |
|
Date of Birth/Age : |
27.11.1980 |
|
Date of Appointment : |
05.12.2013 |
|
DIN No.: |
00008963 |
|
PAN No.: |
ACXPD0968K |
KEY EXECUTIVES
|
Name : |
Mr. Manish Punjvani |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Vijay B Doshi |
20000 |
6.40 |
|
Mala V Doshi |
20000 |
6.40 |
|
ETC Commodities (India) Private Limited India |
22500 |
7.20 |
|
Hemir V doshi |
17500 |
5.60 |
|
Meera H Doshi |
22500 |
7.20 |
|
Vijay B Doshi – HUF |
22500 |
7.20 |
|
ETC Group – Mauritius |
187500 |
60.00 |
|
Total |
312500 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader in agricultural commodities such as Peas, Lentils, Rice, Pulses, Wheat and Soya. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
1st Floor, Lodha Excelus, Apollo Mills Compound, N M Joshi Marg, Mahalaxmi, Mumbai- 400011, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates: |
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|
|
|
Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their
relatives: |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
312500 |
Equity Shares |
Rs.10/- each |
Rs. 3.125
Million |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.500 |
2.500 |
0.100 |
|
(b) Reserves & Surplus |
37.201 |
(40.001) |
(0.057) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
2.383 |
|
Total
Shareholders’ Funds (1) + (2) |
39.701 |
(37.501) |
2.426 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
271.800 |
5.993 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
271.800 |
5.993 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
736.066 |
81.833 |
0.100 |
|
(b) Trade payables |
1736.177 |
838.099 |
0.000 |
|
(c) Other current liabilities |
61.028 |
41.376 |
0.021 |
|
(d) Short-term provisions |
12.378 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
2545.649 |
961.308 |
0.121 |
|
|
|
|
|
|
TOTAL |
2857.150 |
929.800 |
2.547 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.729 |
11.720 |
0.000 |
|
(ii) Intangible Assets |
1.316 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
372.431 |
63.014 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.409 |
17.323 |
0.000 |
|
(d) Long-term Loan and Advances |
3.300 |
8.650 |
0.105 |
|
(e) Other Non-current assets |
1.815 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
391.000 |
100.707 |
0.105 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1731.081 |
524.354 |
0.000 |
|
(c) Trade receivables |
477.958 |
139.675 |
0.000 |
|
(d) Cash and cash equivalents |
97.185 |
52.639 |
2.442 |
|
(e) Short-term loans and
advances |
124.069 |
107.483 |
0.000 |
|
(f) Other current assets |
35.857 |
4.942 |
0.000 |
|
Total
Current Assets |
2466.150 |
829.093 |
2.442 |
|
|
|
|
|
|
TOTAL |
2857.150 |
929.800 |
2.547 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
8936.058 |
3604.779 |
0.009 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
110.413 |
(57.267) |
(0.057) |
|
|
|
|
|
|
|
Less |
TAX |
33.211 |
(17.323) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
77.202 |
(39.944) |
(0.057) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
308.81 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.86 |
(1.11) |
(633.33) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.44 |
(6.74) |
(2.24) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.78 |
1.53 |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
25.39 |
(2.34) |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
0.86 |
20.18 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.100 |
2.500 |
2.500 |
|
Reserves & Surplus |
(0.057) |
(40.001) |
37.201 |
|
Share Application money pending allotment |
2.383 |
0.000 |
0.000 |
|
Net
worth |
2.426 |
(37.501) |
39.701 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
5.993 |
271.800 |
|
Short term borrowings |
0.100 |
81.833 |
736.066 |
|
Total
borrowings |
0.100 |
87.826 |
1007.866 |
|
Debt/Equity
ratio |
0.041 |
-2.342 |
25.386 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from Operations |
0.009 |
3604.779 |
8936.058 |
|
|
|
40,053,000.000 |
147.895 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from Operations |
0.009 |
3604.779 |
8936.058 |
|
Profit |
(0.057) |
(39.944) |
77.202 |
|
|
(633.33%) |
(1.11%) |
0.86% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE: Registered office of the company has been shifted from 19-b, Everest, 3rd Floor, Tardeo Road, Mumbai – 400034, Maharashtra, India to the present address w.e.f.24.11.2011
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Million) |
31.03.2012 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
271.800 |
5.993 |
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
4.386 |
81.833 |
|
Total |
276.186 |
87.826 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED
|
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10541723 |
15/12/2014 |
800,000,000.00 |
RABOBANK INTERNATIONAL |
20/F,TOWER A,
PENINSULA BUSINESS PARK,, SENAPATI |
C39815006 |
|
2 |
10469068 |
15/05/2013 |
95,700,000.00 |
BANK OF BARODA |
EVEREST BUILDING,
GROUND FLOOR,, TARDEO ROAD, MUM |
B84203967 |
|
3 |
10389373 |
14/10/2013 * |
2,038,137,500.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GR
FLOOR, NEAR MITHAKALI SIX ROAD, A |
B87722328 |
|
4 |
10296404 |
22/07/2013 * |
95,700,000.00 |
BANK OF BARODA |
EVEREST BUILDING,
GROUND FLOOR,, TARDEO ROAD,, MU |
B84197458 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.33 |
|
|
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.